The Pension Regulator’s (TPR) updated guidance has been met with some criticism from the industry, which is urging more action as the UK enters Covid-19 pandemic lockdown.
The introduction of long-term funding targets for defined benefit (DB) schemes could create an accounting gap of £260bn between the liabilities reported by companies and schemes, XPS Pensions has warned.
There has been a significant increase in the number of 'red flags' reported on pension transfers in the last 12 months by the XPS Pensions Group, which it said leaves millions of pounds at risk.
XPS Pensions Group has revealed 70,000 defined benefit (DB) members are exercising pension freedoms each year, suggesting more education is needed to ensure better member outcomes.
Xafinity Punter Southall has appointed Wayne Segers as head of Punter Southall Transaction Services ('PSTS').